Resolute Americana Continental Dollar Collection

Set Description
This is the most complete and finest quality Continental Currency Dollar set ever assembled with all metal types and die varieties represented. It is the result of combining among the finest specimens from the Newman and Partrick collections that required decades to build. It includes the new pewter 1-A dotted rings variety that Brian Koller of Heritage Auctions discovered in December 2014. These are the first coins of our United Independent Colonies and the design set the stage for the first coin of our republic, the Fugio cent. Johnathan Odell's poem, "The Congratulation," November 6,1779 (Rivington's Royal Gazette New York), denigrates the pewter dollar in its last stanza and thus, conveys the importance of the pewter dollar. He was a well followed colonial poet and loyal to King George III. In his position as the chief information purveyor (propagandist) for Benedict Arnold, he was able to have this poem widely distributed. The 1784 German almanac, "1700s in America," translated by two professors at the University of Missouri and then published in 2005 through the generous financial support from the almanac's owner Bob Keathley, used images of the Continental Dollar and the Libertas Americana to help convey the history and importance of our revolution. The Treaty of Paris medal, Betts-614, pays homage to the Continental Dollar on the reverse with the thirteen interlinking rings of the colonies as well as being struct in pewter with approximately the same weight and dimensions of that of the Continental Dollar. Finally, the silver Continental Dollars are of immense importance since they represent the first silver coin of our emerging nation and conveyed the message that it could and would coin in silver without the approval of King George III; thus, they represent additional tangible evidence of our Declaration of Independence. President Washington considered it of critical importance that our first federal coin be of silver too, as represented by the 1792 half disme. I have also included copies of both the Fugio cent and Treaty of Paris medal for viewing because of their direct linkage to the Continental Currency Dollar. One last comment, Joel Orosz, numismatic author extraordinaire, was very helpful while I was assembling this collection. I thank him for his insight and guidance. As I gain additional information and insight, I will update my commentary.

All images courtesy of Heritage Auctions from their respective auction catalogues.

UPDATES:

9/26/21
The Medal Collectors of America Advisory published our paper, “The 1783 Treaty of Paris, Betts-614, A Census Study.” The Betts-614 is an incredibly rare medal that celebrates our American independence. It has been argued it is of a European extraction but there is no supporting evidence to this view. We show that the cataloging of it has been quite variable and in many cases, incorrect. Prior to this census study, it was believed that 12-15 medals existed versus the sixteen we show in our census, with eight having edge devices. We believe this is the most extensive evaluation to date and we conclude that, in our opinion, the evidence supports it is of an American origin. As such, we also believe our research adds to the argument that the Continental Dollar is likely of a colonial origin but this view is still debatable. We hope to add additional information and insight to the argument that it is of a colonial origin. Here is the link to the MCA issue, with our paper beginning on p. 31 and concluding on p. 51. https://indd.adobe.com/view/9a62fb88-4ff7-4bee-a0c4-350b30f46d26. We hope you find it interesting and informative.

6/30/21
The Medal Collectors of America, published, in their June edition, “The Continental Dollar, Coin or Medal?” by Tony Lopez and me. In it, we reviewed 4,672 medals and 3,755 tokens for various characteristics that are like those of the Continental Dollar: three metallic compositions, coin-style edge device and multiple die varieties. Tokens were discounted for various reasons and the focus was on medals. In total, only 278 medals were made with an edge device. Of these, just 31 had the Coin-Style type (Milled/Grained/Engrailed). When the number of metals was considered, only two medals were coined in two metals with the Coin-Style type, and none appeared in three metals. The Continental Dollars were made in three metals and had a Coin-Style edge device; thus, they are UNIQUE, when compared to medals. in our opinion, we believe our data supports our conclusion that they are coins and not medals. Now the questions should revolve around where and when were these coins made. Some experts have argued these coins were medals made in England in the early 1780s. Part of their justification for this viewpoint relies upon the 1783 Treaty of Paris medal, Betts-614. We will soon be publishing the most extensive image census ever done on Betts-614 that we believe corrects errors and “liberal” interpretations. In our opinion, we believe our census data and images supports our viewpoint that it is of an American and not English origin. We expect this paper to appear in a forthcoming issue of the MCA. Stay tuned.

3/2/19
For an excellent discussion and rebuttal to recent critical research commentaries about the Continental Dollar, I highly recommend reading, John Kleeberg’s, “The Continental Dollar: British Medals or American Coins?” that was recently published in the Journal of Early American Coinage, volume 2, by the American Numismatic Society. The Resolute Collection is cited a couple of times in this paper. Many of Mr. Kleeberg’s arguments are those that I have held for several years. He also brings new insights into elements of the story, particularly an excellent discussion on period counterfeiting that demolishes the argument that the capability for applying edge devices was not available during the Colonial war period. Additionally, he addresses the arguments that these are inexpensive medals, as argued in the January 2018, The Numismatist, “The Myth of the Continental Dollar,” by Eric Goldstein and David McCarthy. There are other aspects to these coins that have not been addressed yet, that are quite familiar to myself and another colleague, and will be disclosed at a future date. Research I have been conducting on 1792 pattern coinage has taken precedence over this topic. There is little question, in my opinion, Continental Dollars are coins and not medals, as the term “medal” is understood to mean today.

11/27/17
For an interesting and provocative discussion, visit E-Sylum and follow the dialogue regarding, On the Origins of the Continental Dollar. What I can say is both sides agree to disagree. For my contribution, here is the the link: http://www.coinbooks.org/v20/esylum_v20n44a13.html.

11/5/17
“Continental Dollar Die Variety Identifications,” https://www.coinbooks.org/v20/club_nbs_esylum_v20n45.html#article20., is a follow-up article to the one posted previously on October 29, 2017. This is new information about die varieties and why they are important in how they relate to the 1784 volume, “1700s In America,” written in 1783.

10/29/17
In this issue of The E-Sylum, “Rob Rodriguez On The Continental Dollars,” I argue the following, “I believe variations in design, metal type, crudeness, newspaper coinage references, Jonathan Odell's poems and the volume, “1700s in America,” indicate these mysterious coins are something more than what we currently understand them to be; however, my research convinces me that they are from the period as minted.” Link, https://www.coinbooks.org/v20/club_nbs_esylum_v20n45.html#article20

6/27/17
ANA Denver, August 1-5: Please come by to view the collection at the NGC venue. This is the most complete set that has ever been exhibited.

6/24/17
ADDITIONAL NEWSPAPER ACCOUNTS:. These additional newspaper accounts are helping to narrow the timeframe as to when the Continental Dollars were initially coined. Given the timeframe to transfer information from the colonies back to England, six-eight weeks, it means this news about the coins and mint had to leave the colonies no later than sometime in October. Thus, with the London papers of December 1776 and the discussion about a prospective Continental copper coin in late June-early July 1776, we have an approximate timeframe when these coins were initially minted that was between July and September 1776. With the British driving the Continental Army out of York City and its surrounding areas in August-September, this too helps to narrow the prospective timeframe.

July 3, 1776, from a report of July 1, 1776, Pennsylvania Gazette:
"We hear it is proposed, that after three months, the currency of all copper coin, made of base metal, or wanting in weight, to be totally suppressed, and that the rest is to pass at the rate of 15 for an eighth part of a dollar. And if it shall appear that there is not a sufficiency for common use, that it will be called in, and a new impression struck of Continental copper coin, of a large size, 12 of which is to pass for an eighth part of a dollar, of which no other coppers are to pass current."

June 27, 1776, New York Journal:
Discusses a proposed "Continental Copper Coin" to replace many of the badly warn or underweight pieces then circulating in the colonies.

COMMENT ON THESE TWO SOURCES: As one can see, there was some type of discussion developing about replacing the circulating copper coinage. It is interesting to note that the Pennsylvania Gazette's article links the new rate to a basis of eight, very much like the Spanish Milled Dollar, and, at 96 cents to a dollar, it is very close to the eventual 100 cents per dollar. I should also point out that at this time, the terms "copper" and "brass" were used interchangeably.

December 1776, The Scots Magazine, Volume XXXVIII, Edinburgh:
"London, Dec. 24. The congress have have established a mint at Philadelphia, where they coin copper and silver pieces at about the size of a half crown: in silver, go for twelve shillings, in copper for fourteen pence." This is virtually an identical account to that of the London Chronicle referenced in the 2/9/17 commentary. During this period, it was very common for newspapers to "borrow" news from one another.

COMMENT ON RELATIVE DIAMETER SIZE OF THE COINS;
The issue of diameter size when a Continental Dollar is compared to a half crown per Mark Borckardt: He argued that Continental Dollars were much closer in size to a crown, and, thus, this raised an issue in his mind regarding the newspaper accounts. In a subsequent discussion, I explained that the brass/copper Continental Dollars are smaller in diameter than the pewter or silver ones. The four in the Resolute collection have diameters between 36.8 and 37.8 mm, which makes them between 2 and 3 mm smaller than their pewter and silver counterparts. Thus, the early brass/copper could have been easily compared to that of a half crown versus a crown. Additionally, half crowns would probably have been more common than crowns but both would have been rare, given the restrictions on exporting silver coinage to the colonies. Finally, the weights of these brass/copper coins are between 225.8 and 264.7 grains which makes them very similar to the first Birch cents whose weight was established at 264 grains per the April 2, 1792 Mint Act. Therefore, they could be construed as our first pennies, though others believe these were actually pattern test coins. We truly don't know but these newspaper accounts tend to add substance to the former argument.

A logical assumption would be that the silvers would be from same dies and of a similar size. There are three examples of this methodology being utilized. In the case of the pewter and silver 3-D varieities, they have virtually the identical die crack that indicates they were coined at almost the same time, by the same dies but with different metals. Another example is the 1785 Inimica Tyannis America, Confederatio, in copper and silver, that are coined with the same dies, however, the silver has reeded edges. Finally, my friend and colleague, Joel Orosz, provided me with another example. In an email to me on June 20, he states, "a third example of multi-denominational pattern coinage, namely the 1792 Washington President Obverse / 13-Star Eagle Reverse, which is struck in gold, silver and copper, all with a diameter of 33mm, but of varying thickness and weight. See Truth Seeker, pp. 364-372 for a detailed discussion of these pieces." I believe these three examples help demonstrate that multi-denominational coining, with the same dies, is not unusual.

I have acquired both a 1746 half crown in NGC 64 Proof and a 1743 crown NGC MS63, so their sizes would not have been diminished by circulation. The half crown measures 34.5 mm while the crown is 39.3 mm. Others I have are of similar dimensions. Thus, it seems reasonable that the smaller brass/copper Continental Dollars would have been compared to the half crown.

What is interesting are the dimensions, weights and exchange rates for Spanish Milled Dollars versus the 1794 Silver Dollar and the 1776 Continental Dollar.

Spanish Milled Dollar--approximately 39-40 mm 27 grams 411-416. grains
1794 Silver Dollar 40 mm 27 grams 416 grains
1776 Silver Continental Dollar 39.6-40.4 mm 362.2-376.3 grains

Obviously, the Spanish Milled Dollar and the 1794 Silver Dollar are virtually identical. My silver Continental Dollars are of similar diameter but lighter in weight. The lighter weight can be posssibly explained by the fact that the coins were being made from circulating coinage which would likely have been of lighter weight than a freshly struck specimen. The silver Romano Specimen, Newman 1-C, is struck over a Spanish Milled Dollar and has a weight of 373.3 grains.

Finally, a comment about the exchange rages mentioned in the newspaper articles. According to a 1759 edition of Father Abraham's Almanac of exchange rates: 1 English Crown was worth 7 shillings 6 pence in Philadelphia while in NY, the rate was 8 shillings. For a Spanish Milled dollar (8 Reales), the exchange rates were the same. Assuming a conservative inflation rate between 1759 and 1776, an exchange rate of about twelve shillings per silver Continental Dollar could be achieved and, thus, the newspaper account appears to be reasonable, in my opinion.

According to some accounts of 18th century exchange rates, one Spanish Milled Dollar was equal to one English crown. Getting accurate exchange rates for this period is a rather tenuous proposition; however, there seems to be reasonable relationships between Spanish Milled Dollars, crowns, Continental Silver Dollars and the 1794 dollars.

I don't believe these relationships occurred by accident.

6/20/2017
NEW DISCOVERY
I was informed by NGC that the collection's 1-A pewter discovery coin, after my request that it be cracked out of its slab and ithe edge checked, has a plain edge. This marks only the second instance of a plain edge Continental Dollar with the other being the 1-C in this collection. I am awaiting the diameter measurement. The 1-C has an overly large planchet at 41.3 mm, largest of any of the CDs in the collection.

2/9/17
In what may be the earliest reference to Continental currency coinage, in Don Taxay's 1966 volume, "The U.S. Mint and Coinage," p. 7, he references a quote which I verified. The American Journal of Numismatics, October 1891, p. 45, in its Notes and Queries section states, "From the London Chronicle, Dec. 21, 1776. Letters from an officer of the 64th Reg. in York Island to his friend in town. 'The Congress have established a Mint at Philadelphia, where they coin copper and silver pieces about the size of half a crown: In silver go for twelve shillings, in copper for fourteen pence.""

If true, this would place the first sighting of these coins just after there issuance. Why even write about this unless possibly the officer considered it important. It does suggest that this may be hearsay but again why note it? The timing is important since the letter would have been written around October 1776, so as to arrive in England by December, which would be just after the British occupied New York in September. I will conduct a search to locate a copy of this particular newspaper so as to see in what context the British officer's quote was used.

Mark Borckardt, in response to an inquiry from me about this quote, said that he was aware of it and then noted that Continental Dollars are about 40 mm while a British half crown is 34 mm and a crown is about 38 mm. He makes an interesting point and it does need additional clarification. As for the reference to the copper coin, Don Taxay wrote that the terms "copper" and "brass" were used interchangeably. It would have made sense using two different metals so as to distinguish their values since there is no denomination specified. This would have made the production process easier since one set of dies could be utilized. However, some researchers believe the brass specimens were produced as patterns with silver the intended metal but then pewter was used as a substitute, given the shortage of silver at the time.

2/7/16
Update on the motto, "Mind Your Business." In researching the origin of this motto, on p.467 in the 1812 "Memoirs of the Life of David Rittenhouse, LLD, by William Barton," it states in footnote 17, "In the year 1756, he (Rittenhouse) made an eight-day clock, for his brother in-law, Mr. Barton: over the dial-plate of which, was engraven this mementory motto--Tempus fugit; and underneath, this blunt but too often necessary precept--Go about your business." Dr. Rittenhouse considered time to be more important then health. Additionally, in the American Journal of Numismatics, April 1887, p.90, it references this memoir's page and states,"...which seems to settle conclusively that this thrifty advice emanated from the clock-dial constructed by Rittenhouse some twenty years before." The "before" is in reference to the Continental currency of February 17, 1776 $1/6 that has the motto, "Mind you business," beneath a sundial and sun with the word,"Fugio," that has been ascribed to Benjamin Franklin. Why might this be important? Given that Dr. Rittenhouse was the first mint director and was also in Philadelphia in 1776, it is reasonable to assume that Benjamin Franklin would have been aware of Dr. Rittenhouse's view of the importance of time and thus, it was considered sage advice and he modified it. This adds another element to the story of the Continental dollar and why it is important to the foundation of our emerging country.

8/18/15
Newly added pewter 1-Ca, a sub-variety to the Newman 1-C classification, that is number 9 in the listing. It is a wide flange plain edge unique variety that adds a critical final element to the set. Comments and opinions by Mark Borckardt and Joel Orosz are included in the Owner Comments section for the coin.

6/16/15
For an excellent rebuttal to The Numismatic Chronicle commentary, please read David Fanning's, "A Few Notes on Catherine Eagleton’s Numismatic Chronicle Article on the Continental Dollar" that appeared in the current issue of The E-Sylum, Volume 18, Number 24, June 24, 2015, at http://www.coinbooks.org/club_nbs_esylum_v18n24.html. We are all in agreement in challenging this errant and unsubstantiated article.

6/13/15
On June 11, Joel Orosz, a well-respected numismatic author and historian, emailed me an article by Catherine Eagleton, "Collecting America: Sarah Sophia Banks and the 'Continental Dollar' of 1776," from The Numismatic Chronicle, volume 174, 2014, published by the Royal Numismatic Society. This article raises questions as to the true nature of the Continental Dollar and bases its conclusions on notes recorded by Ms. Banks, in her catalogues from approximately 1790 and 1815, that say they were "never current" and "that these were struck on speculation in Europe, for sale in America." Additionally, an advertisement, with no source or date, is offered as additional "proof." In my email response back to Joel, I challenged the article's assertions based upon information referenced in my Set Description above, as well as on other research I have done. Joel responded, "You raise some very important points." He also raised several issues as well, regarding method, location and quality of manufacture. He said, "The cataloger's note (by Jonas Dryander, librarian to Sarah Sophia's brother, Sir Joseph Banks), does not cite where the CD was struck in Europe, nor does it give a citation for its assertions." Additionally, "the workmanship, especially the letters, and the spacing thereof, does not look like the polished Soho Mint products--compare a CD to a 1791 Washington cent, and the difference is obvious." I also emailed the article to Mark Borckardt, Senior Cataloger of U.S. coins for Heritage Auctions and a numismatic author, for his opinion. He too questions the article's conclusions since it "seems to infer a great deal from an extremely limited and unsubstantiated source." I look forward to any additional insight he might have on this topic.

5/31/15
Today, Mark Borckardt, Senior Cataloger and Senior Numismatist for Heritage Auctions and author, confirmed that my MS 66 Pewter 3-D is in fact the same coin plated in the 1882 Bushnell auction catalogue. This came as very positive news to me and I thank him for his diligent effort. In light of this new information, this may be the earliest plated confirmation of a Continental Dollar to date; however, this too needs to be confirmed. And so my journey continues.

5/30/15
BRASS 1-B: The remarkable Charles I. Bushnell collection was auctioned June 20-24,1882 by S.H.&H Chapman. Several Continental dollars were sold, including a brass 1-B (Lot 715) that brought the sizable price of $28. At the time, it was considered extremely rare, since only 2 were known to exist, and important, as reflected by these quotes on pages 42 and 43: "These pieces we consider to be among the most interesting of American coins, as they were the first coins designed for the United States....; but one is known in silver (in the collection of Mr. L. G. Parmelee, of Boston). Continuing, "They (brass) are far rarer than collectors in general consider them to be, and some day will bring greater prices than they have." This view was prescient. The referenced silver coin is the one displayed in this collection. All the pewter dollars were considered rare or extremely rare.

PEWTER 3-D: Lot 713, plated, references a "Proof" example that sold for $5.75. Upon close examination of this photo, Plate 2, #713, I am reasonably confident that this coin is my MS 66, which has many proof-like characteristics. Several markers line up and this came as quite a pleasant surprise to me; thus, my recent acquisition of this catalogue has proven worthwhile.

5/26/15
I just acquired the Dr. Charles M. Clay auction catalogue by W.H. Strobridge that took place November 5-7, 1871, at Geo. A. Leavitt & Co. This auction included the first silver 1-C Continental dollar that is part of this collection as well as The Treaty of Paris medal, also included in the collection, plus a bronze Libertas Americana that is not. Details of their sales prices are included under each coin. For those who are unfamiliar with the Libertas Americana medal, it is considered among the finest and most important of medals relating to American history. It was conceived by Benjamin Franklin in late 1782 and coined in early 1783 in gold, silver and bronze. Only the silver and bronze survive with silver being the rarest, having an estimated population of just 20-25.

4/9/15
See comments on the brass 1-B regarding the possibility of a 3-D variety. I reference correspondence to Eric Newman and a response from Stuart Levine.

3/30/15
Additional information on the Silver Continental Dollars, 1-C and 3-D, from articles in the January 1907 and June 1909 editions of The Numismatist.

3/11/15
Added new brass 1-A with description and background.
Added new pewter 1-C with description and background.

Set Goals
My goal was to assemble this set because of the historical importance of the Continental Dollar. My hope is that such a set may be helpful to those who have a serious interest in the beginnings of our nation's currency as well as its self-identity. In assembling it, I have gained a deeper understanding and appreciation of our country. I hope that anyone who views this set may experience similar feelings. I believe these coins, representative of our heritage, should be shared. Please enjoy the experience and thank you for stopping by for a visit.

For those of you interested in why I chose the name "Resolute" for the collection, it is because the word means a lot to me. First, it describes my personal nature very well. Secondly, it was the name of the acquisition company my future partners and I would use during the process of regaining our independence from a British corporation that I considered to be our own King George III. I chose as our battle flag one with seven interlinking rings with each of my future partner's names in each link. It was inspired by the thirteen rings on the Continental Dollar to reflect our strength of purpose and that "WE ARE ONE." "Resolute" also came from the story of HMS Resolute that sailed to the North Pole in 1851 to rescue a British expedition. Resolute itself became stranded and had to be abandoned. When the ship broke free, fisherman off of Nantucket Island salvaged it. Upon hearing of this, the US government bought it and had it refurbished. The US Navy sailed it to England and presented it as a gift to Queen Victoria in 1856 as an expression of our goodwill. It caused great jubilation through out the country. When it was decommissioned in 1880, Queen Victoria gave orders to have the finest part of the keel fashioned into a desk to be presented to President Rutherford B. Hayes. It is the desk that now resides in the Oval Office. Given the word's significance to me and also its historical importance, I thought it would be appropriate for my collection. I hope you agree.